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Inflation Fires Up Populism, Erodes Political Stability; Rising Food Prices Bode Ill for Incumbent Government

46 1
21.05.2025

By Takayuki Tanaka

7:00 JST, May 17, 2025

Over 100 years ago in Japan, a shortage of rice and a steep rise in its price caused a great uproar for about a month. This has been called the Kome Sodo, or rice riots. Although Japan at the time was not a democratic country, the turmoil adversely affected politics, causing the government of the day to fall.

Present-day Japan is not the same country it was a century ago, and nothing like a desperate clamor for food will happen. But it is true that not only rice but most daily commodities have increased in price, which has diminished the popularity of the government. An opinion poll conducted by The Yomiuri Shimbun in September showed that more than 90% of respondents felt that rising prices were a burden on households. Those who felt so gave Prime Minister Shigeru Ishiba a low approval rating.

This should be no surprise. At least as far back as the French Revolution, which broke out amid fierce inflation, people suffering severe price increases have been apt to feel anger and distrust toward their governments. Even in recent years, we have seen similar situations in various countries. After the start of the war in Ukraine and economic recovery from the COVID-19 crisis, a sharp increase in energy and food prices put the world economy in turmoil, damaging the political standing of world leaders, especially in 2023 and 2024, and leading to changes in short-lived governments.

A simple illustration of this pattern is the lineup of national leaders attending the annual Group of Seven summit. At........

© The Japan News